If a thief takes something you recently bought with your credit card, there’s a good chance you can be reimbursed. Many credit cards do cover stolen items through a benefit called purchase protection, which typically pays out for theft (and often accidental damage) within 90 days of the purchase date, up to a per-claim limit set by your card. It is a contractual perk from your card issuer or network, not a federal right, so what you get depends on the specific card in your wallet.
Your card’s Guide to Benefits is the document that controls everything: whether the coverage exists, what it pays, and what it excludes.1Chase. Travel and Purchase Protection Benefits for Chase Credit Cards: Frequently Asked Questions Most issuers post it online or inside the mobile app.
Which Cards Actually Offer Theft Coverage
Coverage tracks the network and the tier of the card:
- Visa Signature and Visa Infinite cards include Purchase Security, covering eligible items against theft or damage for 90 days from the purchase date.2Visa. Visa Signature Credit Card Benefits and Perks
- Standard Mastercard cards offer Purchase Assurance for 90 days, with a limit of $1,000 per claim and $25,000 per account per year. Premium tiers such as World Elite generally offer broader coverage.3Mastercard. Purchase Assurance – Guide to Benefits for Mastercard Cardholders
- Many mid-range and premium American Express cards include purchase protection covering theft and accidental damage for up to 90 days, capped at $1,000 per occurrence and $50,000 per cardholder account per calendar year.4American Express. Purchase Protection Terms
- Discover eliminated purchase protection, along with several other cardholder benefits, in February 2018. If your card is a Discover, this coverage isn’t available.
If you’re not sure where your card falls, pull up the Guide to Benefits before you assume anything either way.
What Counts as a Covered Purchase
The item generally has to be bought entirely with your eligible credit card. Split the payment with cash, a gift card, or points, and coverage may not apply. The charge needs to appear on your statement as a completed purchase.2Visa. Visa Signature Credit Card Benefits and Perks
Gifts count. If you buy something with your card and give it away, the item stays protected during the window. Authorized users are covered for their own purchases too.5Citi Card Benefits. Your Guide to Protection Benefits International purchases are generally covered as well; Visa’s protection applies worldwide, with limited exceptions for sanctioned countries.6Visa Benefits Portal. Purchase Protection
Theft, Not Loss
Purchase protection covers actual theft, meaning the unlawful taking of your property. An item that simply goes missing under unclear circumstances (sometimes called mysterious disappearance) doesn’t qualify.4American Express. Purchase Protection Terms That’s why a police report is a near-universal requirement.
What’s Excluded
Certain categories are off the table regardless of card:
- Motorized vehicles, including cars, motorcycles, boats, and aircraft.4American Express. Purchase Protection Terms
- Perishable and consumable goods such as food and plants.
- Living things, including pets.
- Items stolen from checked baggage in the care of an airline or carrier, since those losses fall under the carrier’s liability.
- Cash, traveler’s checks, and tickets.
- Normal wear and tear.
Your Guide to Benefits will list any additional exclusions your card imposes.
How Much You Can Get Back
Every policy sets a ceiling per claim and per year:
- Standard Mastercard: up to $1,000 per claim and $25,000 per account per year.3Mastercard. Purchase Assurance – Guide to Benefits for Mastercard Cardholders
- American Express (most cards): up to $1,000 per occurrence and $50,000 per calendar year.4American Express. Purchase Protection Terms
- Visa prepaid cards: up to $500 per claim and $1,000 per year. Visa Signature and Visa Infinite carry higher limits.7Visa. Purchase Security for Reloadable Visa Prepaid Card
Payout is capped at the price you actually paid, as shown on the receipt. Sale price if it was on sale, not retail.
This Is Secondary to Your Other Insurance
Purchase protection is almost always secondary coverage. If you carry homeowner’s or renter’s insurance, you’re expected to file with that policy first, and the card benefit then covers the gap, including your deductible, up to the card’s limit.8American Express. Purchase Protection Benefit Guide
In practice, a lot of stolen items fall below homeowner’s and renter’s deductibles, which commonly run $500 to $2,000. When that’s the case, going straight to purchase protection is often the better move because there’s no deductible. Expect the administrator to ask about any other coverage you carry so it can figure out its share.
How to File a Claim
File a Police Report Fast
Report the theft to local law enforcement quickly. Visa requires the report within 48 hours of the incident.7Visa. Purchase Security for Reloadable Visa Prepaid Card Other networks impose similar windows. Skip this step and most claims are denied automatically, no matter how legitimate.
Notify the Benefit Administrator
Call the benefit administrator listed in your Guide to Benefits as soon as you can, even before you’ve gathered every document. Mastercard requires notice within 30 days of discovering the theft.9Mastercard. Purchase Protection The administrator is a third-party insurer that handles claims for the network. You’ll get a claim number and a form.
Gather the Documents
You’ll typically need:
- The original receipt showing date, item, and amount.
- The credit card statement reflecting the completed charge.
- A copy of the police report.
- A written description of when, where, and how the theft happened.
- Serial numbers for electronics or other high-value items.
- Details on any other insurance that might cover the loss.
Get everything in by the administrator’s deadline. Visa allows up to 90 days from the date the claim is opened to submit all paperwork.6Visa Benefits Portal. Purchase Protection If the claim is approved, the payout usually arrives as a statement credit or a check.
Your Account Has to Be in Good Standing
One detail worth flagging: your account generally must be open, valid, and in good standing on the date of the theft. Mastercard’s terms state that benefits will not be paid if the account is cancelled, suspended, or delinquent when the loss occurs.9Mastercard. Purchase Protection If you’re thinking about closing a card, consider any recent purchases still inside the 90-day window.
Cell Phones Have Their Own Benefit
A stolen phone often isn’t a purchase protection case at all. Some cards offer cell phone protection as a separate benefit, and it works on a different trigger: you don’t have to have bought the phone with the card, but you do have to pay your monthly wireless bill with it. Coverage kicks in the billing cycle after your first qualifying payment.10Wells Fargo. Cell Phone Protection With Your Credit Card Visa Signature cards, for example, reimburse for a stolen or damaged phone with a $50 deductible when the monthly bill goes on the card.2Visa. Visa Signature Credit Card Benefits and Perks Check that benefit first if a phone is what was taken; the terms may be better than what general purchase protection would offer.
If the Claim Is Denied
Ask for a written explanation. Common reasons are a missed deadline, missing documentation, or an exclusion. If the problem is paperwork, you can usually resubmit with what was missing.
If you can’t resolve it with the administrator, you can file a complaint with the Consumer Financial Protection Bureau. The CFPB forwards the complaint to the company, which generally responds within 15 days.11Consumer Financial Protection Bureau. Submit a Complaint Include the key dates, amounts, and copies of your correspondence.